TradeStation Help

Knight Link

Knight Link (KNIGHT LINK) allows the trading of listed NYSE, AMEX, NYSE Arca, and Nasdaq stocks. Even, odd, and mixed lot orders are supported (even lots are multiples of 100, mixed lots are not, odd lots are orders less than 100 shares).

• Orders can be placed from 9:30 A.M. to 4:00 P.M. Eastern Time.
• KNIGHT LINK accepts decimal increments precise to two digits (that is, prices as fine as .01).

In the event of a connection outage between the TradeStation Order Execution Network and KNIGHT LINK, all open orders will be canceled by GETCO.

Order Durations

Day

May be entered between 9:30 A.M. and 4:00 P.M. Eastern.

Unfilled orders and leaves expire immediately.

IOC (Immediate Or Cancel)

May be entered between 9:30 A.M. and 4:00 P.M. Eastern.

Partial fills will be accepted.

Order Behaviors

• KNIGHT LINK will not hold orders. All DAY orders, including market orders, are converted to IOC at KNIGHT LINK and matched by Knight Link at price at or better than the best bid/ask of the market (that is, "at the inside").
• Upon receipt of a market order or marketable limit order,KNIGHT LINK will match the order against their internal liquidity and will not re-route any residual volume to any other market center or liquidity pool, and cancel the remainder, if any, back to the user. As a result, market orders or marketable limit orders sent to KNIGHT LINK may result in no fill, a full fill or a partial fill.
• Non-marketable orders are immediately rejected; partial fills will be accepted.
• An Immediate or Cancel (IOC) order is matched by KNIGHT LINK at price at or better than the best bid/ask of the market (that is, "at the inside"). Non-marketable orders are immediately rejected, partial fills will be accepted.